Business Report: PSEG subsidies, jobs, NJ manufacturing

New Jersey companies are having trouble filling about 30,000 open manufacturing positions

PSEG filed an application with the state Board of Public Utilities requesting three more years of subsidies, saying the financial need is even greater now. But environmental groups question that, arguing the utility is profitable. Meantime, the state’s Division of Rate Counsel is still trying to overturn the original subsidies. The legal case has been delayed due to the pandemic. PSEG is an underwriter of NJTV News.

Job creation in the United States slowed in September. Just 661,000 new jobs were added to the economy last month, according to the government’s monthly jobs report, which was released Friday. The unemployment rate fell to 7.9%.

In New Jersey right now, there are about 30,000 open manufacturing positions that companies are having trouble filling. That’s the word from John Kennedy, CEO of the New Jersey Manufacturing Extension Program. He says the average annual manufacturing wage in New Jersey is over $94,000. This week, Kennedy’s organization received a $1.5 million state grant to help facilitate job training and apprenticeship opportunities, particularly in South Jersey. Friday was the annual state gathering known as Manufacturing Day, which highlights the importance of manufacturing in New Jersey.